Mortgage Fee Hikes Expected For Many on May 1

There are some changes coming to fees and interest rates for mortgages. On May 1, loan fees will increase for borrowers with higher credit scores, and decrease for those with lower scores. NTD speaks with Joshua Goodwin, vice president of Goodwin Mortgage Group. He says that in terms of interest rates, it’s better to buy than rent right now—because you can always refinance if and when the rates go down. On the other hand, the National Multifamily Housing Council says that owning a home currently costs about $1,000 more per month than renting.

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